How the SECURE Act could affect estate plans
Many people in Nevada include their retirement accounts as part of their overall estate plan. In the past, people often planned that the named beneficiary on their individual retirement account, or IRA, could take the distributions from the plan over their entire...
Estate planning when you’ve had a falling out with your child
Most parents would probably agree that seeing their children come into their own is a bittersweet experience. Like them, you may miss those times when your child would cuddle up with you on the couch and loved you unconditionally, especially if you now have a strained...
Stepping up as a successor trustee
Many people in Nevada find that trusts are very helpful to their estate planning process. The additional privacy, flexibility and control provided by these options mean that they can be valuable tools in distributing assets after a person passes away. Still, people...
How to correct estate planning problems
Changes to the tax law or other events that happen during a person's life may cause estate planning problems. For instance, a trust may become obsolete because of a change to the tax code or because it fails to provide for a newborn child. If an irrevocable trust does...
An overview of irrevocable trusts
Nevada residents may be interested in using an irrevocable trust as part of their estate plans. An irrevocable trust is one that generally cannot be modified without the consent of all of its beneficiaries. Once an item is transferred to the trust, the trust obtains...
What to know about wills and probate
If an individual who owns property in Nevada passes away, his or her estate may need to go through probate. This may be true whether or not that individual had a will. Certain assets such as a life insurance policy or a home that was owned jointly with another person...
Reading of wills no longer required by states
Nevada residents who have had a loved one recently pass away may be interested to know if they were named in the will. A will is a legal document that allows a person to determine what happens to their estate after they pass away. Wills typically name the...
Estate planning advice in the new year
The start of a new year may be a good time for Nevada residents and others to review their estate plans. In 2020, there will be a presidential election, and shifts in political philosophy could have tax and other estate planning consequences. For instance, some...
The new year is the perfect time to review your estate plan
As the new year gets underway, you may be thinking of certain matters you need to address to ensure a happy year ahead. You may think of diet changes you want to make, doctor appointments you need to schedule and personal matters you need to update. In particular, you...
The importance of estate planning for business owners
Business owners in Nevada and throughout the country will ideally take the task of estate planning seriously. Doing so may help to ensure that a company is successful after the original owner no longer owns or operates it. While many people wait until later in life to...